Christmas and New Year is usually a quiet time for the real estate market However, some sellers may be keen to strike a deal before the end of the year The process can be made slower as solicitors and the like are on holidays
While there is typically a mad rush leading into Christmas with buyers and vendors wishing to secure a deal, once the markets pass Christmas, the period until New Years is traditionally a quiet time.
This is due to most real estate agents an other professions in the sector taking a break while the market slows down.
“For many buyers, all they want for Christmas is a home,” said Lloyd Edge of Aus Property Professionals.
“What this means is, that if you are a savvy investor there are multiple factors that are unique to the festive season that can help you secure the right property for your needs as long as you understand the markets and do your research.”
So, what happens to the Australian property market during this time?
The lead up to Christmas, like the retail sector, is one of the busiest times of the year for real estate.
“It seems that sellers really want to have their property sold by Christmas and a new home is on many buyers’ Christmas wish lists,” continued Mr Edge.
“Many sellers don’t want to risk waiting for the new year to sell their property, as there will be more properties (meaning competition) entering the market. At the same time, the buyers are often pre-occupied with planning holidays and Christmas festivities as well as tightening their budgets, so that also impacts the activity in the property markets.”
Lloyd Edge, Aus Property Professionals
Lloyd Edge. Image supplied.
He suggested that if you are looking to buy,